Biden, bipartisan lawmakers reach deal on infrastructure details

President Joe Biden and a bipartisan group of Senators reached an agreement July 28 on details for an infrastructure package following weeks of negotiations, the White House said in a statement.

The deal includes $550 billion in new federal investment in US infrastructure, according to the White House, including $110 billion in new funds for roads, bridges and major projects. It also reauthorizes the surface transportation program for the next five years, building on bipartisan surface transportation reauthorization bills passed out of committee earlier this year.

It also includes $40 billion in new funding for bridge repair, replacement and rehabilitation, marking the largest dedicated bridge investment in the US since the construction of the interstate highway system in the 1950s.

Also included is a $39 billion investment in public transportation to replace thousands of transit vehicles, including buses, with clean, zero emission vehicles. An additional $66 billion is to be invested in passenger and freight rail to eliminate the Amtrak maintenance backlog, modernize the Northeast Corridor, and bring rail service to areas outside the Northeast and mid-Atlantic.

The bill also includes a $7.5 billion investment to build out a national network of electric vehicle chargers, the first-ever national investment in EV charging infrastructure.

It also invests $17 billion in port infrastructure and $25 billion in airports to address repair and maintenance backlogs, reduce congestion and emissions near ports and airports, and drive electrification and other low-carbon technologies.

The bill includes funding to support water infrastructure upgrades, including drinking water, provides investment for broadband infrastructure, and an additional $73 billion has been marked for clean energy investment.

Senate Majority Leader Chuck Schumer said he will call for a vote to proceed with the bipartisan bill in the Senate the evening of July 28.

"I believe we have the votes for that, and we will then proceed to amendments and go forward on that bill," Schumer told reporters following the announcement of the deal.